Los Angeles Capital Management LLC Raises Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Los Angeles Capital Management LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 58.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,706,885 shares of the network equipment provider’s stock after purchasing an additional 1,733,663 shares during the quarter. Cisco Systems accounts for 1.0% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 15th largest position. Los Angeles Capital Management LLC owned approximately 0.12% of Cisco Systems worth $250,500,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CSCO. Summit Securities Group LLC purchased a new position in shares of Cisco Systems in the second quarter valued at $25,000. Quarry LP grew its stake in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC increased its holdings in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Cisco Systems during the second quarter worth about $36,000. Finally, Iron Horse Wealth Management LLC lifted its holdings in shares of Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after purchasing an additional 766 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.0 %

Shares of NASDAQ CSCO traded down $0.02 during midday trading on Friday, hitting $58.06. The stock had a trading volume of 17,517,686 shares, compared to its average volume of 16,469,526. The company has a fifty day moving average price of $53.30 and a 200 day moving average price of $49.41. The company has a market capitalization of $231.70 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 4.79 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $58.30. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 earnings per share. On average, analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.76%. Cisco Systems’s dividend payout ratio (DPR) is currently 62.99%.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now owns 165,580 shares in the company, valued at $8,181,307.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the sale, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at $8,181,307.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on CSCO. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $52.00 to $62.00 in a research report on Wednesday, October 16th. Jefferies Financial Group dropped their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $46.00 to $58.00 in a research report on Friday, August 16th. JPMorgan Chase & Co. lifted their price objective on Cisco Systems from $53.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. Finally, Piper Sandler restated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $56.74.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.